ADVERTISEMENT
Daily Expert News
No Result
View All Result
Tuesday, March 28, 2023
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Daily Expert News
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
No Result
View All Result
Daily Expert News
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
ADVERTISEMENT
Home Economy

ONGC OFS: Retail investors can bid on a share in ONGC today. Should you invest?

by Nick Erickson
March 31, 2022
in Economy
Reading Time: 3 mins read
124 10
0
Govt sells 1.5% stake in ONGC to raise Rs 3,000 Crore through OFS; Know details
153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


ONGC Offer for sale: The Union government has decided to sell its 1.5 percent stake in Oil and Natural Gas Corporation through an offer for sale (OFS). The offer for sale (OFS) from Oil and Natural Gas Corporation (ONGC) received a strong response from non-retail investors. Today, March 31, 2022, the ONGC is open for sale of shares to retail investors. Nearly 19 million shares, worth Rs 300 crore, reserved for retail investors will be auctioned on Thursday. The unsubscribed shares in the retail class, if any, will be allocated to non-retail investors.

Here’s Everything You Need To Know About ONGC’s Listing For Sale Before Investing

ADVERTISEMENT

ONGC OFS: price range, other important details

The Union government’s offer to sell 94.3 million shares or a 0.75 percent stake in the public sector oil and gas company was set to open to non-retail investors on March 30. The offer to sell another 94.3 million, or 0.75 percent, was set to open to retail investors on March 31. The floor price for the sale has been set at Rs 159, with about 7 percent off the share’s closing price of Rs 171 on March 29.

ADVERTISEMENT

ONGC OFS: who can invest, reserved portion?

With the sale of the ONGC shares, a minimum of 25 percent of the shares is reserved for investment funds and insurance companies, while 10 percent is intended for private investors. Retail investors are defined as individual investors who bid on no more than 2 lakh shares. ONGC employees can apply for shares worth up to Rs 5 lakh each, the filing said, adding that 0.075 percent of the shares sold in the OFS would be offered to eligible employees at the closing price. The government owns a 60.41 percent stake in ONGC, which produces half of India’s oil and gas.

ONGC Stocks: Should You Buy?

Sonam Srivastava, founder of Wright Research, said: “The shares will be available for Rs 159 in the offering for sale, which is a 7 percent discount from a previous closing price of Rs 171. ONGC is for the short term and with The small discount offered by this OFS could be an attractive buy, but since this is a PSU stock and there is a decline in crude oil prices following the Russia-Ukraine crisis, caution should be exercised.”

Avishek Datta, research analyst at Prabhudas Lilladher, suggests that “One should buy ONGC from CMP as crude oil and gas prices are likely to remain high.”

India’s Comptroller and Auditor General had said last week that India has lost 3.8 million metric tons of crude oil worth Rs 11,276 crore in four years due to less-than-planned water injection by ONGC into its western offshore fields.

The center has been able to collect about Rs 45,485.87 crore as of January 2022 through the proceeds of divestments and dividends combined. the 2022 budget.

The Union’s finance minister Nirmala Sitharaman had set a target in her previous 2020-21 budget to raise Rs 2.1 lakh crore from privatization and sale of minority stakes in state-owned companies. The divestment, before fiscal year-end on March 31, comes after the government launched an initial public offer for the nation’s largest insurer, Life Insurance Corp. has postponed it to next year due to market volatility.

Read all the latest news, breaking news and IPL 2022 Live Updates here.

ADVERTISEMENT
Tags: BidDailyExpertNewsInvestinvestorsOFSONGCRetailshareToday

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Related Posts

Adani Ent posts a net profit of Rs 820-Crore in Q3, a revenue increase of 42%; Shares jumped 4%
Economy

EPFO continues to invest in Adani Ports, Adani Enterprises; Details

March 27, 2023
Udayshivakumar Infra IPO: Check subscription status, GMP, allocation, listing date
Economy

Skincare company Mamaearth’s mother puts IPO on hold: report

March 27, 2023
Exemptions under new tax regime 2023-24
Tax News

Income Tax: Individuals do not have to pay income tax up to this amount; Details here

March 27, 2023
HAL shares trade lower after going ex-dividend; Key details investors need to know
Economy

Rekha Jhunjhunwala Portfolio: Analysts See 24% Rise in this Insurance Stock; Details

March 27, 2023
Sensex opens in the red, more than 300 points down; Handy among the 17,630; Rupee weakened by 37 Paise
Economy

Stock Updates: Sensex Up 100 Points, Nifty50 Above 16,950; Phoenix grinds up 3%

March 27, 2023
Stocks to watch: Delhivery, Vedanta, NTPC, Vodafone Idea, Power Grid and others
Economy

Stocks to watch: Lupine, Tata Steel, Nykaa, Adani Stocks, Paytm, Sun Pharma and others

March 27, 2023
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
This optical illusion has a revelation about your brain and eyes

This optical illusion has a revelation about your brain and eyes

June 6, 2022
NDTV Coronavirus

Viral video: Chinese woman pinned down, Covid test carried out by force

May 5, 2022
NDTV News

TGIF Mood: Video of Bear Cub Dancing in the Forest Melts 2.5 Million Hearts

June 3, 2022
Hundreds In Sarees At UK

Hundreds of sarees at Britain’s Royal Ascot Horse Race to help Indian weavers

June 16, 2022
The shock of chopping up a Chanel bag

The shock of chopping up a Chanel bag

1
NDTV News

Watch: Researchers Discover the World’s Largest Factory in Australia

1
Skyrocketing global fuel prices threaten livelihoods and social stability

Skyrocketing global fuel prices threaten livelihoods and social stability

1
No Guns, No Dragons: Her Video Games Capture Private Moments

No Guns, No Dragons: Her Video Games Capture Private Moments

1
Netanyahu says he will postpone his judicial review. But will that be enough for protesters?

Netanyahu says he will postpone his judicial review. But will that be enough for protesters?

March 28, 2023
8 interior tips for a cozy home

8 interior tips for a cozy home

March 28, 2023
NDTV News

20 Hajj pilgrims killed, dozens injured in Saudi Arabia bus crash

March 28, 2023
First Case Of H3N2 Detected In Himachal, Baby Girl Tests Positive

First case of H3N2 detected in Himachal, baby girl tests positive

March 27, 2023
ADVERTISEMENT

Recent News

Netanyahu says he will postpone his judicial review. But will that be enough for protesters?

Netanyahu says he will postpone his judicial review. But will that be enough for protesters?

March 28, 2023
8 interior tips for a cozy home

8 interior tips for a cozy home

March 28, 2023

Categories

  • Africa
  • Americas
  • art-design
  • Arts
  • Arts & Culture
  • Asia Pacific
  • Astrology News
  • books
  • Books News
  • Business
  • Cricket
  • Cryptocurrency
  • Dance
  • Dining and Wine
  • Economy
  • Education & Career
  • Entertainment
  • Europe
  • Fashion
  • Food
  • Football
  • Gadget
  • Gaming
  • Golf
  • Health
  • Hot News
  • India
  • Indians Abroad
  • Lifestyle
  • Markets
  • Middle East
  • Most Shared
  • Motorsport
  • Movie
  • Music
  • New York
  • Opinion
  • Politics
  • press release
  • Real Estate
  • Review
  • Science & Space
  • Sports
  • Sunday Book Review
  • Tax News
  • Technology
  • Television
  • Tennis
  • Theater
  • Top Movie Reviews
  • Top Stories
  • Travel
  • Uncategorized
  • Web Series
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links

We bring you the Breaking News,Latest Stories,World News, Business News, Political News, Technology News, Science News, Entertainment News, Sports News, Opinion News and much more from all over the world

©Copyright DailyExpertNews 2023

No Result
View All Result
  • Contact Us
  • Home
  • Top Stories
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • India
  • Education & Career
  • Arts
  • Advertisement
  • Tax News
  • Markets

©Copyright DailyExpertNews 2023

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?